- 2024 revenue up compared to 2023 (€18.2 million), despite a second half impacted by the drop in industrial investment.
- Confirmed international footprint: 81% of revenue generated outside France, including 23% in North America and 52% in Europe (excluding France).
- In the medium term, a change in market scale driven by OEMs and global players in the industrial vehicle sector: more discussions and prospects for new partnerships from 2025.
- Arcure invites foreign investors to participate in the English speaking webinar organized today at 5 p.m., CET.
Arcure, a specialist in artificial intelligence for improving safety and productivity in industry, today announced unaudited annual revenue for the 2024 financial year of €18.7 million, up from the 2023 financial year (€18.2 million).
Franck GAYRAUD, CEO and co-founder of Arcure, comments: "We are maintaining a growth trajectory in 2024, after a ramp up in 2023 and despite the slowdown in industrial investment observed in the second half of the year and the postponement of certain orders from major accounts in Europe and the United States. Our long-term growth confirms the broad opening of the embedded AI market in industry. The coming years will open a new stage in our development: conquering the market of industrial vehicle manufacturers and equipment suppliers. These global players are now engaged in the race to integrate AI technologies. The numerous discussions already underway could deliver results as early as 2025, with the signing, we hope, of promising agreements that will accelerate our growth. Our profitability, which is already unusual in the world of AI, is set to improve further in the years to come."
2024: a confirmed leadership in the global market for embedded AI solutions for industry
After a historic first half (€10.1 million), revenues total €18.7 million for 2024, slightly up from 2023 (€18.2 million). This revenue was achieved despite a context of a sharp slowdown in industrial investment and a drop in sales of new off-road vehicles, which generated order delays from major end-user accounts in the second half of the year.
The 2024 financial year, approaching the €20 million target announced in 2021, demonstrates Arcure's strong growth over the long term (80% since 2021, 146% since 2019).
Geographically, Arcure's commercial expansion recorded in recent years is confirmed. The group generates 81% of its revenue outside France, a rate that has been stable since 2023 (84%) and has increased significantly since 2021 (69%).
Concerning distribution channels, 65% of sales are indirect via distributors and dealers, 12% direct to user customers and 23% to OEMs, driven in particular by deliveries of the Last Buy Order in Blaxtair 3 from Liebherr.
OEMs and technology equipment manufacturers: a scale-up is coming
At the end of this 2024 financial year, Arcure plans to take advantage of both its transatlantic geographical presence to capture the expected market recovery linked to the massive investment policy expected in the USA, but also of a product offering expanded in terms of range and features, corresponding to the needs expressed by customers.
In the medium term, the market will be driven by vehicle manufacturers and technological equipment manufacturers for industrial vehicles. To date, the share of major manufacturers that have initiated a program to equip themselves with technologies such as those offered by Arcure represents an annual production of more than 800,000 vehicles per year. To address these needs, Arcure has intensified its commercial capabilities, with the recruitment in 2024 of a new team dedicated to the development of OEM partnerships. Arcure confirms that it is currently in direct discussions with world leaders producing a total of around 400,000 vehicles per year, in call for tender or pre-call for tender phases. The intensification of these exchanges should lead to initial decisions as early as 2025.
The overall penetration rate of AI technologies for safety and productivity remains below 1% today and could reach 10 to 25% by the end of the decade. In total, the annual volume of new equippable machines is estimated at 1.7 million per year (excluding China and India)[1], expected to grow strongly by the end of the decade[2].
Thanks to its technological expertise in AI, its specific databases, its integration and reputation into the industrial ecosystem, its knowledge of needs and its international footprint, Arcure is today ideally positioned to respond to the change in scale of its market and become the benchmark player in intelligent industrial vehicles.
Next meeting:
Webinar in English, for English speaking investors
January 14, 2025 at 5:00 p.m., CET.
Register at the following link: https://tinyurl.com/mscfw757
Only registered investors will be able to participate in this webinar.
Next financial publication:
Financial results for the 2024 financial year
March 27, 2025 before market opening
About Arcure
Founded in 2009, Arcure is an international group, specialized in artificial intelligence applied to perception technology for the industry, which develops and markets solutions to enhance the autonomy and safety of industrial machines and robots.
In particular, Arcure has developed Blaxtair®, a state-of-the-art intelligent pedestrian detection solution, improving safety around commercial vehicles in many contexts, including the most difficult environments. Already sold more than 25,000 units in more than 50 countries, Blaxtair® is used by the world's leading industrial companies and is gradually being adopted by machine manufacturers.
Arcure is headquartered in the Paris area, R&D offices and operational units in France, has a subsidiary in the United States and has sales offices in Germany, United Kingdom and Spain.
Arcure is listed on Euronext Growth (ISIN: FR0013398997 - Ticker: ALCUR). The group recorded an annual €18.7 million revenue in 2024, 81% of which was generated outside France.
Learn more at www.blaxtair.com
CONTACTS
| INVESTORS RELATIONS Marc Delaunay investisseurs@arcure.net | MEDIA RELATIONS Marc Delaunay marc.delaunay@blaxtair.com |
[1] Sources: Statista and manufacturers data.
[2] Research and Markets, October 2024, https://tinyurl.com/33ezht4n
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